Commenting on the market, Senior Analyst Shilpi Jain said, “The global smartphone market closed 2025 on a positive note, with its revenue and ASP both reaching all-time record levels. The premiumization trend remained the key driver in Q4 2025, as we observed early launches of flagship devices and smartphone price increases in some regions due to the ongoing memory shortages, driving up the overall ASP. Consumers continued to upgrade to higher-priced devices in both developed and emerging markets, where year-end holiday sales, financing, and trade‑in offers drove value growth. The mid-tier segment also witnessed strong traction, supported by promotions and improved purchasing power in emerging markets. This helped drive overall smartphone shipment growth during the quarter despite persistent supply chain headwinds and elevated component costs.”

Apple strengthened its market leadership in Q4 2025, delivering its highest-ever shipments and revenues for a quarter, up 14% and 23% YoY, respectively. Commenting on Apple’s performance, Research Director Jeff Fieldhack said, “Apple’s growth was driven by the iPhone 17 series, benefitting from the upgrade super-cycle. At the same time, an ASP uplift across regions drove stronger revenue growth, as Pro versions gained share. Revenues grew across regions, setting records in the US, China, Latin America (LATAM), Western Europe, Middle East and South Asia.”

Samsung remained the second-largest revenue contributor with 11% market share and 12% YoY growth, while its volume was up 17% YoY in Q4 2025, the highest increase among the top five brands. Samsung benefited from the strength of the Galaxy A series, holiday promotions, and the traction of Galaxy S25 devices and Z Fold7 foldables in some regions. The shipment growth mainly came from LATAM, Southeast Asia, Middle East and Africa (MEA) and parts of Europe, helping offset softer performance in North America and India. While this A-series led performance improved volumes, the ASP declined 4% YoY in the quarter.

Global Smartphone Market Revenue Shares, ASPs, Shipment Shares in Q4 2025

Source: Counterpoint Market Monitor Service Preliminary Data
OPPO includes OnePlus since Q3 2021
ASP is Based on Wholesale Price

Xiaomi's revenue declined 9% YoY in Q4 2025 while shipments also fell 11% YoY, as supply constraints and rising component costs weighed on its entry-level and mid-tier portfolios. With rising component prices, Xiaomi’s shipments declined in China and India, two of its biggest markets. While the ASP grew 3% YoY on the back of selective premium launches, the gains were insufficient to offset volume declines, underscoring Xiaomi’s vulnerability to rising component costs and the industry’s shift toward high-end devices.

OPPO’s revenue and ASP witnessed the second-fastest YoY growth among the top five brands, growing 23% and 6% in Q4 2025, respectively. The growth was largely driven by the expansion of its higher-priced portfolio, particularly the Reno 14 and Find series, as well as continued overseas expansion in emerging markets in the MEA, LATAM and APAC. vivo’s revenue also grew 6% YoY during the quarter, supported by strong performance in China and India.

Commenting on the market outlook, Research Director Tarun Pathak said, “Moving ahead, the global smartphone market is expected to record continued rise in ASPs supported by deeper premiumization, demand for AI-enabled features and DRAM/NAND price hikes. However, the elevated memory prices and component costs will also squeeze smartphone shipments in 2026, forcing vendors to focus more on value growth and portfolio mix improvement. Memory, as a component, shows signs of no order cut as buyers expect only partial fulfillment and prioritize survival over efficiency. Brands with limited pricing leverage are likely to experience intensifying pressure.”

About Counterpoint Research

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.

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